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Forefront Archives

Vol. 2, No. 2

Spring 2011

Download the full print version. (PDF)

President’s Message

Sandra Pianalto

The Federal Reserve has taken many steps to enhance how we communicate our policy intentions to the public. I believe now is an opportune time to take another important step along that path. Read more (PDF)

See more about Inflation; Monetary Policy; President's Message

Readers’ Comments

Responses to a recent article on a Cleveland Fed proposal to lessen undesirable housing transactions. Read more (PDF)

See more about Reader Comments

A Short History of Inflation Targeting at the Federal Reserve: Q&A with Marvin Goodfriend

The former Federal Reserve official explains why he thinks an explicit inflation target may be in the Fed’s near-term plans. Read more (PDF)

See more about Inflation; Monetary Policy

Price Stability: Why We Seek It and How Best to Achieve It

Sandra Pianalto

Why price stability is essential for maximum employment, and how the adoption of a numerical target for inflation may improve the central bank’s ability to achieve both objectives. Read more (PDF)

See more about Inflation; Monetary Policy

How can inflation be considered low when food and gas prices are so high?

Brent Meyer and Mehmet Pasaogullari

Because there is a difference between inflation and relative price changes. Read more (PDF)

See more about Inflation

Isn’t pursuing a low and stable inflation rate going to cost the economy jobs?

John B Carlson and Owen F Humpage

On the contrary: Low and stable inflation is an essential ingredient for growing jobs. Read more (PDF)

See more about Inflation; Monetary Policy

How do we know when people are worried about inflation?

Joseph G Haubrich

One way to gauge opinions on future inflation is to ask people directly, and several well-respected surveys do just that. Read more (PDF)

See more about Inflation

Is an explicit inflation objective consistent with a dual mandate?

Brent Meyer and Mark E Schweitzer

It can be. In fact, it may even allow the Fed more room to pursue short-term output and employment stabilization. Read more (PDF)

See more about Inflation; Monetary Policy

Interview with Mark Bils

Mark Bils, a macroeconomist at the University of Rochester, has delved deeper into the intricacies of price measurement than most. Read more (PDF)

See more about Inflation

Book Review of Fault Lines: How Hidden Fractures Still Threaten the World Economy

By Raghuram G. Rajan, a professor at the University of Chicago and former chief economist at the International Monetary Fund Read more (PDF)

See more about Book Reviews; Financial Crisis